IndusInd Bank Personal Loan Interest Rates

IndusInd Bank Personal Loan provides the individuals with a wide range of benefits although, availing it will depend on certain factors which include the monthly income of the applicant, credit history, and financial status. The interest rates offered on personal loan varies from 12.99%-18.25%, and the applicant is not required to provide any collateral, security or guarantor. The loan repayment options include EMI and ECS.

Personal Loan Interest Rates by Induslnd Bank as per 2017

Particulars

Salaried

Self-Employed

Rate of Interest

11.25%-26% yearly

11.25%-26% yearly

Loan Amount

Max: Rs.15 lakhs

Min: Rs.50,000/-

Max: Rs.15 lakhs

Min: Rs.50,000/-

Loan period

Min: 1 year
Max: 5 years

Min: 1 year
Max: 5 years

EMI (lowest)

Rs.1,138/- (applicable for the maximum tenure of lowest loan amount)

Rs.1,138/- (applicable for the maximum tenure of lowest loan amount)

Processing Fee

Applied GST + 2.50% of loan amount

Applied GST + 2.50% of loan amount

Age

Max: 60 years
Min: 21 years

For salaried - Min: 25 years

Max: 65 years.

For self-employed- Min: 25 years Max: 65 years.

Prepayment Charges

After 12 EMI repayments, 4% of the principal outstanding amount.

After 12 EMI repayments, 4% of the principal outstanding amount.

Things to keep in mind before availing IndusInd Personal Loan:
  • Employment details:

If you are a salaried individual and work with a high net-worth company, the bank may provide you low returns on your loan compared to those without a steady income like a businessman. 

  • Relationship with Induslnd:

If you already are an existing customer of the bank with good rapport and the bank trusts you blindly, the bank can bend some rules and can reduce the interest attached to your loan.

  • Repayment capacity:

After reviewing your CIBIL score, the bank will determine your loan repayment capacity.

  • Loan tenure:

Depending on the holding period of the loan, the interest rates are set. That is, for a longer tenure, the bank will offer you low-interest rates whereas; for shorter tenure, high-interest rates will be charged. 

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